uri_nlp_ner_workshop/data/test_txt/10985.txt

stellar biotechnologies reports third quarter {num} financial results and operational highlights 
port hueneme , ca -- ( marketwired - august {num} {num} ) - stellar biotechnologies , inc . ( " stellar " or " the company " ) ( nasdaq : sbot ) , the leader in sustainable manufacture of keyhole limpet hemocyanin ( klh ) , announces its financial results for its third fiscal quarter and nine months ended june {num} {num} 
third quarter and recent operational highlights 
revenue increase : revenues for the third quarter and nine months ended june {num} {num} increased {num}% and {num}% , respectively , over the comparable periods in {num} driven primarily by an increase in sales volume , resulting from an expanded customer base . 
initiated capital raise : on june {num} {num} stellar announced pricing of a ${num} million registered direct offering of common shares and private placement of unregistered warrants . the transaction was completed with institutional investors and closed on july {num} {num} this financing strengthens the company's balance sheet and supports growth initiatives intended to meet anticipated market demand . 
expanded management team : on may {num} {num} stellar announced the appointment of michael l . klein , ph . d . as vice president of chemistry , manufacturing and controls ( cmc ) . dr . klein brings extensive operational and scientific experience in the biopharmaceutical industry to his role as head of stellar's pharmaceutical manufacturing and product development . 
joint venture agreement with neovacs sa : on may {num} {num} stellar and neovacs s . a . ( alternext paris : alnev ) announced a joint venture agreement to manufacture and sell conjugated therapeutic vaccines using stellar's proprietary klh , including producing neovacs' kinoid immunotherapy product candidates . in july {num} stellar and neovacs formed a new company , neostell s . a . s . , in france to carry out the business of the joint venture . 
" the stellar team is very pleased to report another period of positive momentum on all fronts with continued growth in revenues , a successful institutional financing , and formation of our joint venture company neostell , " said frank oakes , president and chief executive officer of stellar biotechnologies , inc . " our growth plans are now bolstered by a stronger balance sheet , providing a runway from which we can execute on key programs that we believe will position stellar to be the leading klh company in the field of active immunotherapy . " 
third quarter and nine months ended june {num} {num} financial results : 
revenues : stellar generated total revenues of ${num} and ${num} for the third quarter and nine months ended june {num} {num} compared to ${num} and ${num} for the same periods in {num} an increase of approximately {num}% and {num}% respectively . the increase in revenue resulted primarily from an increase in product sales volume from an expanded customer base , including sales under supply agreements . 
expenses : total expenses were ${num} million and ${num} million for the third quarter and nine months ended june {num} {num} compared to ${num} million and ${num} million for the same periods in {num} costs of revenues were ${num} and ${num} for the third quarter and nine months ended june {num} {num} compared to ${num} and ${num} for the same periods in {num} these costs did not increase at the same rate as revenues due to certain indirect manufacturing costs that we incur regardless of product sales levels . in addition , some employees were temporarily assigned to process development for our stellar klh™ products , thereby lowering indirect manufacturing costs in the current period . 
research and development expenses were ${num} and ${num} million in the third quarter and nine months ended june {num} {num} compared to ${num} and ${num} in the same periods in {num} the changes in r&d expenses over the prior period were primarily the result of increased internal research and process development related to our stellar klh™ products and increased costs related to our aquaculture feasibility assessment in baja california , mexico . 
general and administration expenses were ${num} and ${num} million for the third quarter and nine months ended june {num} {num} compared to ${num} and ${num} million for the same period in {num} the changes in g&a resulted primarily from a combination of increased corporate expenses , including our nasdaq listing fees ; compensation increases ; expanded customer and business development travel and increased investor relations activity . 
net income ( loss ) : the net loss for the third quarter ended june {num} {num} was ${num} million , or ( ${num} ) per basic share , compared to net income of ${num} or ${num} per basic share , for the quarter ended june {num} {num} the net loss for the nine months ended june {num} {num} was ${num} million , or ( ${num} ) per basic share , as compared to a net loss of ${num} million , or ( ${num} ) per basic share , for the nine months ended june {num} {num} the increase in net loss was primarily due to fluctuations in non-cash gain / loss in fair value of warrant liability , partially offset by foreign exchange gains in the nine months ended june {num} {num} all warrants with canadian dollar exercise prices were exercised or expired by october {num} and , consequently , there was no warrant liability and no gain / loss in fair value of warrant liability after that time . 
capital resources : working capital position as of june {num} {num} was ${num} million , compared to ${num} million as of september {num} {num} cash , cash equivalents and short-term investments totaled ${num} million at june {num} {num} compared to ${num} million at september {num} {num} subsequent to june {num} {num} we completed a registered direct offering of common shares and private placement of unregistered warrants for net proceeds of approximately $6 million . 
conference call information and webcast information : 
date : wednesday , august {num} {num} 
time : 1 : {num} pm et / {num} : {num} am pt 
conference call dial-in : 1-{num}-{num}-{num} 
conference call passcode : {num} 
webcast link : https : / / www . webcaster{num}com / webcast / page / {num} / {num} 
q&a submission : questions for management may be submitted via the chat feature of the live online webcast . 
please log in at least {num} minutes before the start time to ensure timely participation and appropriate web interface platform . 
an archived replay version of the conference call will be available approximately two hours after the live call ends through wednesday , august {num} {num} at {num} : {num} pm eastern time by dialing ( {num} ) {num}-{num} ( u . s . and canada ) or ( {num} ) {num}-{num} ( international ) and entering passcode {num} the webcast replay will also be available shortly after the conference call ; to review visit the " investors " section of stellar's website at : http : / / ir . stellarbiotechnologies . com / events-calendar . 
stellar biotechnologies will file its form {num}-q for the period ending june {num} {num} with the securities and exchange commission ( " sec " ) on tuesday august {num} {num} to view the company's filings under form {num}-f , form {num}-k , {num}-q and 8-k , please visit the u . s . sec website ( www . sec . gov ) . to view the company's filings with the canadian securities administrators ( " csa " ) , including the management discussion and analysis and related consolidated financial statements , please visit the csa's sedar website ( www . sedar . com ) . 
about stellar biotechnologies , inc . 
stellar biotechnologies , inc . ( nasdaq : sbot ) is the leader in sustainable manufacture of keyhole limpet hemocyanin ( klh ) , an important immune-stimulating protein used in wide-ranging therapeutic and diagnostic markets . klh is both an active pharmaceutical ingredient ( api ) in many new immunotherapies ( targeting cancer , immune disorders , alzheimer's and inflammatory diseases ) as well as a finished product for measuring immune status . stellar biotechnologies is unique in its proprietary methods , facilities , and klh technology . we are committed to meeting the growing demand for commercial-scale supplies of gmp grade klh , ensuring environmentally sound klh production , and developing klh-based active immunotherapies . 
visit www . stellarbiotech . com and the klh knowledge base www . klhsite . org . 
forward looking statements 
this press release may contain forward-looking statements within the meaning of section {num}a of the securities act of {num} as amended , and section {num}e of the securities exchange act of {num} as amended . forward-looking statements may be identified by the use of words such as " anticipate , " " believe , " " plan , " " estimate , " " expect , " " intend , " " may , " " will , " " would , " " could , " " should , " " might , " " potential , " or " continue " and variations or similar expressions . readers should not unduly rely on these forward-looking statements , which are not a guarantee of future performance . there can be no assurance that forward-looking statements will prove to be accurate , as all such forward-looking statements involve known and unknown risks , uncertainties and other factors which may cause actual results or future events to differ materially from the forward-looking statements . such risks include , but may not be limited to : general economic and business conditions ; technology changes ; competition ; changes in strategy or development plans ; governmental regulations and the ability or failure to comply with governmental regulations ; the timing of the company's or its partners' anticipated results , including in connection with clinical trials ; and other factors referenced in the company's filings with securities regulators . for a discussion of further risks and uncertainties related to the company's business , please refer to the company's public company reports filed with the u . s . securities and exchange commission and the b . c . securities commission . all forward-looking statements are made as of the date hereof and are subject to change . except as required by law , the company assumes no obligation to update such statements . this press release does not constitute an offer or solicitation of an offer for sale of any securities in any jurisdiction , including the united states . 
condensed interim consolidated balance sheets ( unaudited - prepared by management ) ( expressed in us dollars ) ------------- ------------- june {num} september {num} {num} {num} ------------- ------------- assets : cash , cash equivalents and short-term investments $ {num} $ {num} other current assets {num} {num} noncurrent assets {num} {num} ------------- ------------- total assets $ {num} $ {num} ============= ============= liabilities and shareholders' equity : accounts payable , accrued liabilities and deferred revenue $ {num} $ {num} warrant liability , including current portion - {num} shareholders' equity {num} {num} ------------- ------------- total liabilities and shareholders' equity $ {num} $ {num} ============= ============= condensed interim consolidated statements of operations ( unaudited - prepared by management ) ( expressed in us dollars ) three months ended nine months ended ------------------------ ------------------------ june {num} june {num} june {num} june {num} {num} {num} {num} {num} ----------- ----------- ----------- ----------- revenues : product sales $ {num} $ {num} $ {num} $ {num} contract services revenue - {num} {num} {num} ----------- ----------- ----------- ----------- total revenues {num} {num} {num} {num} expenses : costs of revenues {num} {num} {num} {num} research and development {num} {num} {num} {num} general and administration {num} {num} {num} {num} ----------- ----------- ----------- ----------- total expenses {num} {num} {num} {num} other income ( loss ) : foreign exchange gain ( loss ) ( {num} ) {num} {num} ( {num} ) gain ( loss ) in fair value of warrant liability - {num} ( {num} ) {num} other income {num} {num} {num} {num} income tax expense - {num} {num} {num} ----------- ----------- ----------- ----------- net income ( loss ) $ ( {num} ) $ {num} $ ( {num} ) $ ( {num} ) =========== =========== =========== =========== earnings ( loss ) per common share - basic $ ( {num} ) $ {num} $ ( {num} ) $ ( {num} ) weighted average number of common shares outstanding - basic {num} {num} {num} {num} condensed interim consolidated statements of cash flows ( unaudited - prepared by management ) ( expressed in us dollars ) nine months ended ------------------------ june {num} june {num} {num} {num} ----------- ----------- cash flows used in operating activities : net loss $ ( {num} ) $ ( {num} ) items not affecting cash : depreciation and amortization {num} {num} share-based payments {num} {num} foreign exchange ( gain ) loss ( {num} ) {num} ( gain ) loss in fair value of warrant liability {num} ( {num} ) changes in working capital items ( {num} ) ( {num} ) ----------- ----------- net cash used in operating activities ( {num} ) ( {num} ) net cash provided by investing activities {num} {num} net cash provided by financing activities {num} {num} effect of exchange rate changes on cash and cash equivalents {num} ( {num} ) ----------- ----------- net change in cash and cash equivalents {num} ( {num} ) cash and cash equivalents - beginning of period {num} {num} ----------- ----------- cash and cash equivalents - end of period $ {num} $ {num} =========== =========== stellar biotechnologies company contact : mark a . mcpartland vice president of corporate development and communications phone : +1 ( {num} ) {num}-{num} ext . {num} markmcp@stellarbiotech . com www . stellarbiotech . com